History never repeats, but it often rhymes
$PEPE skipped the initial $240M range that $DOGE had established and ran straight to $1.8B before retracing all the way back to $240M.
$DOGE, on the other hand, only retraced to $850M because it had already built a higher base at $240M instead of starting from zero.
From there, $PEPE exploded from $240M straight to $13B, once again skipping the range in between. Meanwhile, $DOGE climbed from $850M to $13B.
When both retraced, $DOGE held a higher floor again at $2.7B because it had established that $850M base earlier. $PEPE fell further, to $950m, having never built that same foundation.
Both ran to $1.8B before retracing. Both ran to $13B before retracing.
So the question is: Will $PEPE skip the range again?
Could $PEPE go from $950m straight to $97B?
That's up to your imagination to decide.
There is no cap on a meme. Market cap is the meme.
BTC itself is a meme.
Memecoins behave differently from most traditional assets. Instead of experiencing diminishing returns with each cycle, their moves can become increasingly parabolic, with each leg more explosive than the last.
Something else worth noting: On the second leg, $DOGE retraced to $850M while $PEPE fell to $240M, a difference of roughly 70%.
Applying that same 70% decrease to $DOGE's third-leg retracement of $2.7B would put $PEPE at around $800M, remarkably close to the $950M level it actually reached.